A survey of members by the National Association of Business Economics suggests that the chance of a recession in the next 12 months has dropped significantly. Of the respondents, 7% said 0% to 10%; 40% put the odds at 11% to 25%; and 50% said between 26% and 50%.

However, there were concerns about economic conditions. About 31% of respondents said that concern over inflation is the factor having the greatest effect on staffing or investment decisions. At 19%, uncertainty over the presidential election is the second biggest effect.

A record percentage of members' firms raised prices in the second quarter of 2024 — 57% — than the previous survey in April. Given the downward trajectory of inflation, it may be a result of increasing cost pressure. The Producer Price Index increased by 2.6 percent in June, above the 2.3% expectation.  However, materials costs were unchanged by 57% or falling by 3%, compared to a 40% rise. And for the next three months, only 22% expected costs to increase. About 69% thought they would be unchanged and 8% said they expected them to fall.